Common use of Payment for Tenant Improvements Clause in Contracts

Payment for Tenant Improvements. 4.1 All costs and expenses incurred for the construction of the Improvements shall be paid by the Tenant, less credit to the Tenant from the Landlord. 4.2 Any modifications or additions required to the Premises’ life safety systems brought about by final schematic drawings and specifications (such as the addition and/or relocation of demising walls, sprinkler heads, exit lights, emergency lighting, firehorns, or the like) shall be a cost of the Improvements. 4.3 Tenant’s Cost shall be payable as follows: (a) Tenant shall pay to Landlord prior to the commencement of construction of the improvements, an amount equal to fifty percent (50%) of the Tenant’s Costs (as then estimated by Landlord). (b) Prior to occupancy of the Premises, Tenant shall pay to Landlord the unpaid balance (as such amount can then be reasonably estimated based on available data) of Tenant’s Costs, plus any approved modifications thereto. 4.4 The amounts payable hereunder shall constitute additional rent due under the Lease and shall be due at the time specified herein. Tenant’s failure to make any such payments when due shall constitute a default under the Lease, entitling Landlord to all of its remedies thereunder.

Payment for Tenant Improvements. 4.1 All costs and expenses incurred for the construction of the Improvements shall be paid by the Tenant, less credit to the Tenant from the Landlord. 4.2 Any modifications or additions required to the Premises’ ' life safety systems brought about by final schematic drawings and specifications (such as the addition and/or relocation of demising walls, sprinkler heads, exit lights, emergency lighting, firehorns, or the like) shall be a cost of the Improvements. 4.3 Tenant’s 's Cost shall be payable as follows: (a) Tenant shall pay to Landlord prior to the commencement of construction of the improvements, an amount equal to fifty percent (50%) of the Tenant’s 's Costs (as then estimated by Landlord). (b) Prior to occupancy of the Premises, Tenant shall pay to Landlord the unpaid balance (as such amount can then be reasonably estimated based on available data) of Tenant’s 's Costs, plus any approved modifications thereto. 4.4 The amounts payable hereunder shall constitute additional rent due under the Lease and shall be due at the time specified herein. Tenant’s 's failure to make any such payments when due shall constitute a default under the Lease, entitling Landlord to all of its remedies thereunder.